Evening star. [volume] (Washington, D.C.) 1854-1972, 1887-10-14
A QUARTER OF A MILLION GONE.
Both the Stafford Ranks RutneA BY
Cashier Hicks OefAlcaliOm.

UeHo1Co9IOme
The defalcation Of Richard s. Hicks cashier Of
the Stafford National Bank, as stafford, conn,
has created decided sensation In that state, Ysys
New Haven dispatch 10 the Philadelphia n css.
Messra Foreman and Cooley. the National Bank
examiner say that the shortage viii reach
$4,000. Both the stafford National Bank and
the Stafford Savings Bank have suspende /. having
been wrecked BY HickA The Savings Bank held
s6e. 600 OF the National Bank stock, which had
capital OF $1,000 An excited crowd Of angry
depositors hung about the closed doors Of the two
banks all day yesterday. One young man bal
been bequsatssd 70 him, ana he was there be.
moanfng his IosA Poor women walled over the
quick consumption Of their little wealth: WORK.
manner that would not leave him able TO be tried.
Ineir SAVES Of years had been swallowed up.
"When charged with being a defauiter Hicks
emphatically denied the allegation, but when the
s actual accounts Of the New York. Boston and
confessed to the defalcauon."
rHAkS OF CONTINUED FRAUD.
The false entries on the books and the peculiar
way draft stubs had been handled lately were o
surprise to all who had q hand In the examina-
with the drafts and in each case the draft was for
mucn more than indicated on the stub The
printed numbers on the drafts were frequently
der OF draft numbers was disarranged. Within q
few days Hicks had put in as assets OF the bank
Two checks OF the vermont Lumber Co, drawn on
aSpfingneid bank, amounting to $4,000. These
are worthless. Hicks had considerable mt ,ey sunk
In the lumber company, which has gone under.
OF the concern. HIS confession in regard TO the
lumber ccmpshy is that some years ago the bank
was found 10 be possessed u bad debt and took
a large tract OF timber land In Vermont 1t was
not thought safe to hold the land he says he Of
Tered TO relieve the bank by buying the tract. The
1ermont Lumber co. was organized, OF which
nd Of
bought. mill was built and operations began.
Loyeless, Farr Co., then having an Office IN
agents Hicks expected to clear the land at q
pront Of $4,000, but 1t proved 10 be poor Invest
It Is now proven that II is but repetition Of the
Old story OF speculation and the use OF the banks
iunds 10 aid In repairing the losses.
OTHER CROOKED TRANSACTIONS.
he has had large dealings with 7. Il. Brady, q
New York cotton broker and has sent him drafts
to the amount Of 81, 09l, as now appears by the
books HIS irregular transactions have been going
OF the bank. Many wonder why he did not fee to
Canada before the development took place. II Is
that before his transactions would be made public
he could make enough by speculation TO cover his
entertainments II mas also been discovered that
per cent interest. The examiners found $46 600 in
these certifcatea all held by residents Of stafford,
Gates being iSf very small amounts This Is ali
lost.
II Q stranger had asked the people of Stafford
Springs Tuesday afternoon who was the most
pu0lic-sptrited man In the borough three out OF
four would have Answered X. 8. Hicks He seemed
to be the person who united the friendship Of the
young men with the confidence OF the older bust
ness men. His push and drive In developing the
place had given him such hold on the community
tlat the mere TACT that his name was connected
with an enterprise was enough TO insure Its being
taken up BY scores Of people. The roads on the
terrace, the water company, the agricultural asso
Citation were but few OF the enterprises In which
he was the leading spirit, and many OF the prin-
cipal blocks In the town were owned by him. He
had laid the foundation for new block opposite
the bank which he ruined that was TO be the hand
soonest building In town, and was TO contain hall
for entertainments aid for the gatherings OF the
young men OF the village. he organized electric
light company for the village and Charter was
thtrty-eight years OF age, Is a native Of TOlland
and began his career as q banker q clerk in the
Toiland Bank.